Bitcoin Forum

Is there like a basic guide to data mining that isn't like absolute jargon? Super interested in understanding trading just kinda derping out right now, because even someone explaining to you, sounds like total nonsense. Maybe that's why it's so profitable, like I'd consider myself pretty technologically smart, but this shit just blows my mind.

Basic guide for data mining or for bitcoin mining?Don`t waste your time with btc mining,if you can`t buy mining hardware and don`t have cheap electricity.
Cryptocurrency trading is like forex trading,think of cryptos like stocks or fiat currencies(or "digital gold").
It`s not profitable,because it`s complicated,you have to learn fundamental and technical analysis,just like in normal trading.

I think for a newbie you should try signature campaign instead, Its more profitable and much easier that trading, Mining bitcoin is so hard especially when your going to use your laptop, and your laptop might end up dead if you use it. You can only gain profit on mining if you have mining rig, and specially low electric bills.

Mining bitcoin is pretty much over for the average person. Only big operations with expensive equipment are profitable nowadays.

Don't forget...There are tons of other cryptocurrencies to mine and stake. Some of them can be profitable to even home users.

I agree there needs to be a Mining Guide of some kind for Dummies. I've never mined any kind of coin, because I can't find good detailed instructions. I've tried it before and failed, getting errors messages and other problems with the software. No guide has been able to successfully walk me though it. They are all too vague and assume you have previous knowledge, but I don't know where to get that knowledge.

You can sure get your mining skills and tutorials on the internet and some experts in the mining industry and sure there are videos about it that you can surely watch and try, I myself didn't try mining because it is basically not profitable in my country, but I guess there will be some profit for the newer coins but somehow I am just earning with trading and signature campaign and bounty campaign for the time being.

If you have a decent graphics card, NiceHash is a good place to start. Basically, you mine altcoins but you get paid in bitcoins. With a decent GPU, you can earn $1 a day, depending on the cost of your electricity.

As for trading, what people don't tell you is that not every trader makes money. For every $100 one trader makes, another trader loses $100.

Being a newbie is not a justification to not learn new things and even as a newbie, to join a signature campaign, would mean to have been active on the forum for not less than a month and at that you need to be be constructive in other to get a spot but for trading, you can just read about it on several threads on the forum and before long you could made decent income.

I actually think there is a bitcoin for dummies book oddly enough.

Check out BTC Sessions channel on YouTube if you're beginner with Bitcoin and would like to know more about it  starting from the very basics. I know more than most people and I still watch Ben's videos.

Yes there is and you can buy it from Amazon if you want.

Link to the book

https://www.amazon.com/Bitcoin-Dummies-Business-Personal-Finance/dp/1119076137/ref=sr_1_1?ie=UTF8&qid=1503695555&sr=8-1&keywords=bitcoin+for+dummies (https://www.amazon.com/Bitcoin-Dummies-Business-Personal-Finance/dp/1119076137/ref=sr_1_1?ie=UTF8&qid=1503695555&sr=8-1&keywords=bitcoin+for+dummies)

There are several books on Bitcoin as you will see from the suggested posts in Amazon when browsing the link above.

Is there actually any dummy in the trading world or in the wide and vast world of bitcoin, I wouldn’t regard any one as a dummy all I would say is that they are newbies that would surely learn after sometime, all it takes is just patience and time to learn.

I have seen a lot of books for investors relating to bitcoins, but I would love to read a book that comes from the Dummies series, I have read a lot of articles and even books relating to investing and I think all the books in Dummies series are the best.

I agree, the era of bitcoin mining is coming to a close because you would have to procure not just one unit but many units to only serve as miners. It is, I think, not reasonable and economic, because you would have to pay big sums for electricity, and if you buy cheap PC units, it would just susceptible to damaged because you would have to do modifications to you computer to up its performance.

For newbies, like me, when I was recommended by a friend, he told me to first try my hand on campaigns. It's more reliable, you just have to not choose the ones that are scams.

I would learn more about the blockchain in general, alt coins, and how to make money from upcoming ICO's or bounty programs.

Having in mind a large number of Bitcoin newcomers with little or even no knowledge about Bitcoin and mining such kind of guidelines would be a good idea. People want fast informations gathered at one place that are easy to read and use and that could help the to get into subject and start with actions. Hope this will be successful for you.

Bitcoin.org, if I am remembering correctly, has a relatively good video when it comes to "what is mining", along with some simply graphics that really make it easy to explain to someone who isn't familiar with the entire concept. That's how I learned a fair amount of my knowledge when I was first entering the community, I have no idea what they have on their website now since it's been a few years since I last visited.

The rest of the thread can likely provide valuable information regarding other resources they've seen or read in the past.

data mining? I think you mean bitcoin mining. if so, don't waste your time and start learning about bitcoin and cryptocurrency first unless you have enough money to by mining hardware and pay electricity bills. Mining became too expensive and the concurrence is not fair anymore due to the huge amount of money invested by miners.
You can start by reading "Mastering Bitcoin", it's a good book and i am sure it will help you understand the basics of Bitcoin.

I think that making recommendations on bitcoin for people who are "not in the subject" is very necessary. We all know and believe that bitcoin will continue to spread, to penetrate deeper into world finance, and eventually bitcoin and cryptovoyut will generally have to be used by everyone. And it would be good if there was a collection where the most necessary information would be collected without complex terms, so that everyone in the bitkin could understand at a basic level. Then bitcoin will spread out around the world even more quickly.

Have you seen this article from 99 Bitcoins? Bitcoin Mining for Beginners (https://99bitcoins.com/beginners-guide-to-mining/)

If terminology is your biggest challenge right now you should search this forum or the web for translations of specific terms. For example, bitcoin is not spelled "BitCoin", it's spelled "Bitcoin".

You could also ask specific questions by posting threads in the Mining board of this forum, just make sure the questions are specific.

At first I did not know anything about this bit of Coins, my friends never know this, I just got this information from a friend I just met, then he explained what is bitCoin. From that explanation I am interested and want to know more about bitCoin. Unfortunately until now I have not been able to understand overall how to see good opportunities in this regard.